Abbott named one of America`s most generous companies, sets company records for employee giving
Abbott has been recognized by The Chronicle of Philanthropy as one of the most generous companies in the U.S., ranking No. 5 out of 162 of the largest U.S. companies that participated in the magazine's survey of 2009 giving. In 2009, Abbott and the company's philanthropic foundation the Abbott Fund provided more than $580 million in grants and product donations. In 2010, Abbott's tradition of giving continues, as the company set new records both in terms of number of participating employees and total dollar contributions for employee giving.
More than four out of every five Abbott employees (83 percent) participated in the company's employee giving programs, up from 78 percent in 2009. This is more than twice the participation rate typically seen with employee giving campaigns, according to JK Group, an organization that helps administer corporate philanthropy programs for Abbott and many other companies. Abbott employees contributed more than $13.3 million to non-profit groups in 2010, surpassing the 2009 total of $12.8 million. This figure includes pledges raised through the company's annual employee giving campaign, donations by employees throughout the year, and matching gifts from the Abbott Fund.
'Year after year, Abbott employees continue to make signification contributions in funding and through volunteer efforts, which is a clear reflection of our culture of giving and citizenship,' said Katherine Pickus, divisional vice president, Global Citizenship and Policy, Abbott. 'Employee giving also is an important part of Abbott's broader philanthropic investment to build healthier communities around the world.'
Abbott employees pledged donations to more than 5,300 different civic organizations, non-governmental organizations and other non-profit groups. A significant part of this support, including matching grants from the Abbott Fund, goes to long-standing community organizations such as the American Cancer Society, American Diabetes Association, American Heart Association, Arthritis Foundation, Juvenile Diabetes Research Foundation and United Way.
About Abbott's Approach to Citizenship
Global citizenship is an integral part of Abbott's mission to improve people's lives, focused on four key areas: innovating for the future, enhancing access to health care, protecting patients and consumers, and safeguarding the environment. Working in partnership with others, Abbott leverages its core business expertise and resources to create sustainable solutions in countries around the world.
Abbott has been included on the Dow Jones Sustainability Indexes (DJSI) for six consecutive years, and ranked sixth overall on the global '100 Best Corporate Citizens List 2010' compiled by Corporate Responsibility magazine. The company was named one of the top three '2010 Best in Class' companies in its industry sector by Storebrand Investments, and was named among the global leaders for online citizenship reporting and stakeholder engagement by Lundquist. Abbott also was among the top 10 percent of companies on Newsweek magazine's 'Greenest Companies in America' list, and was named to the Maplecroft Climate Innovation Index for excellence in climate-related innovation and carbon management.
In addition, FORTUNE magazine named Abbott the No. 1 Most Admired Company in its industry sector in 2010, in part for the company's strong performance in social responsibility. Abbott also has been recognized for its sustainability efforts in countries around the world, including Brazil, China, Denmark, Finland, Ireland, Italy, Korea, Mexico, Singapore, Tanzania and the United States.
To learn more about Abbott's sustainability initiatives and to read or download the company's 2009 global citizenship report, please visit www.abbott.com/citizenship.
About Abbott and the Abbott Fund
The Abbott Fund is a philanthropic foundation established by Abbott in 1951. The Abbott Fund's mission is to create healthier global communities by investing in creative ideas that promote science, expand access to health care and strengthen communities worldwide. For more information, visit www.abbottfund.org.
Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs nearly 90,000 people and markets its products in more than 130 countries. Abbott's news releases and other information are available on the company's website at www.abbott.com.
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